IUIH to Invest Rs. 1600 Cr. in Uttarakhand

Dehradun, Uttarakhand, India/Businesswire India//– Indo UK Institute of Health (IUIH), one of the largest healthcare infrastructure projects in the world, has signed up a Memorandum of Understanding (MoU) with the Government of Uttarakhand for setting up an integrated IUIH Medicity in the state. Signed during Destination Uttarakhand Investors Summit 2018, this initiative shall deliver to the people of the state world-class NHS standard healthcare that’s available, affordable and accountable. IUIH shall enable Uttarakhand to emerge as a global hub for medical tourism, medical equipment and device manufacturing, pharmaceutical production; and cutting-edge medical research.

According to Dr. Ajay Rajan Gupta, Managing Director and Group CEO, IUIH, “The IUIH Medicity to come up in Uttarakhand will be developed with an investment outlay of Rs. 1600 crores. It will have a 1000 bed hospital in association with one of UK’s leading NHS hospital.”

The IUIH Medicity in Uttarakhand shall also have medical college, nursing college, PG academy and a training facility for allied health professionals. It shall also have a separate zone for medical equipment and device manufacturing, and pharmaceutical production. Cutting edge medical research shall be carried out at the IUIH Medicities in areas as diverse as genomics & stem cells, translational research and clinical research leveraging on the patient data available.

Dr. Rajdeep Singh Chhina, COO, IUIH, said, “The objective is to make every IUIH Medicity a medical tourism hub and attract the patient traffic from across the globe. NHS standard healthcare at lower price points is our winning formula to tap the medical tourism business potential. This shall not just contribute to the exchequer but lead to overall development of the region too, in line with the government’s Smart Cities initiative.”

IUIH has retained Elara Capital Plc as Financial advisor for raising funds for its projects in India. Mr. Raj Bhatt, Founder & CEO, Elara Capital Plc said “The organised healthcare space in India is growing at a rapid pace. IUIH with its unique relationship with NHS, UK, has a very promising future and there is a strong interest from institutional investors and we feel privileged to be part of this project.”

IUIH has tied up with some of the leading implant companies, and medical equipment and device manufacturers. Many of them would start their manufacturing operations in IUIH Medicities in accordance with Prime Minister Modi’s ‘Make in India’ program bringing the healthcare cost further down for patients in India.

“We are also relying heavily on technology for big data analytics. Our e-Health and m-Health platforms will facilitate exchange of patients’ medical records electronically using telemedicine, tele-radiology and tele-pathology for diagnostics etc. It’s all about covering the last mile and taking healthcare services down to patient’s doorstep,” informed Dr. Ajay Rajan Gupta.

Besides Uttarakhand, the other states to benefit from the IUIH programme include Assam, Andhra Pradesh, Gujarat, Haryana, Karnataka, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Telangana, Uttar Pradesh and West Bengal.

About IUIH

The Indo UK Institute of Health (IUIH) Medicity Programme was announced as a Joint Statement between the Prime Minister of India Shri Narendra Modi and the former Prime Minister of the United Kingdom Mr. David Cameron in 2015. The programme involves an investment of close to Rs 20,000 crores into Indian healthcare aimed at benefitting over 400 million Indians by opening 13 institutes across India in partnership with the world’s best healthcare system – the National Health Service (NHS), UK.

Healthcare UK and Department for International Trade (DIT) India are supporting IUIH with its plans. The project is supported by Ministry of Health and Family Welfare, Government of India and Invest India, which is the national investment promotion and facilitation agency for India promoted by Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India.

About Elara Capital

Elara Capital Plc has emerged as a leading investment bank and equity house that raises money for Indian corporates looking for overseas funding and is ranked among the top investment banks in the Bloomberg league tables. It has completed transactions worth billions of dollars and expanded the scope of its services to include M&A and Private Equity Advisory, Broking Services, Asset Management and Wealth Management. Elara’s Equity Research Team is renowned for delivering high-end, valued-added research on Indian equity markets to clients across the world. Elara is headquartered in London and has offices in New York, Singapore, Dubai, Mauritius and India.